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Digg it UP - Franchise Your Business Right Away and Only Pay As You Go
Wal Mart and Tommy Hilfiger: How To Make A Brand Work ll these pieces together, including the UFOC and reference materials, allows enough cross-pollination to nicely create a training/orientation program/discovery day. By utilizing the structure of the franchise system (UFOC), the Operations Manual and Pre-Opening manual, a Franchising Expert can work with clients to determine what items to focus on when training Franchisees. After all, an entrepreneur who invests a large sum of $$ to brand their business must be able to run with it immediately after training. A good way to go about this is to create an outline of the training/orientation program, complimented by a PowerPoint presentation. The training and orientation program can be broken down into modules so it can be easily moved around and tailored to the audience. For example: A Franchise Consultant could create a 3-day training program with each day broken down into modules. If, for example, a franchisee needed more attention on the administrative functions in day two of training, they could simply move the next scheduled module around with the second half of administrative module of day three so they could spend more time on that area without losing momentum and without jeopardizing the timeline.The news has been reporting that Tommy Hilfiger is up for sale.As of this writing, there are various clothing brands and investment groups pondering an acquisition of the Tommy Hilfiger company.There is no question that Tommy is one of the leading clothing brands in the world.It has been reported that it is gaining popularity in Europe which should more than offset any slowing of its market share growth in the US market.What should be an interesting situation is the following.It has been reported that Wal Mart is interested in making a deal with the future acquirer of Tommy.Wal Mart would like to carry apparel and other accessories from Tommy Hilfiger.But the dilemma for a buyer of Tommy would be the consequence of having their brand sold by a national discount retailer.Would the brand lose its cache as a top brand if customers can buy it at a discount at Wal Mart?Any sane buyer would stop bu Structure, sys A Franchise Expert that offers a Pay As You Go program can create a tremendous advantage and opportunity to a business wanting to franchise. Very simply, this shifts the risk to the franchise development company to perform for the business wanting to franchise without the franchisor being out of pocket lots of cash up front. Even though franchise opportunities abound, good, quality Franchising Help can prove elusive. A good Franchising Advisor, and especially one that will work with you on a Pay As You Go program where you only pay for the services you are receiving currently, is crucial to your success as a franchisor. In general, people want to own a business without thinking; therefore owning a Franchise is the conduit for many entrepreneurs because franchises are business systems that are easily duplicated. Typically, many business owners spend their own money opening up satellite offices and hiring employees who do not even care about the business- to run it. Their logic is that this is the best way to control growth and keep the consistency and uniformity of their product or service. However, if you can get the same results - why not use the resources of an entrepreneur who has skin in the game, to use his/her own money to brand their business without having the out of pocket expenses? To create franchise wealth, you have to leverage your efforts while minimizing costs. If you are a business owner and really want to expand your business, you should take a serious look at Franchising. The Franchising Information below can greatly assist you in starting the process of Franchising Your Business. This information can also be utilized by entrepreneurs wishing to talk to businesses about franchising. In short, you will better understand just how EASY and SIMPLE it is for businesses to expand through franchising. It is all about structure and systems. Structure refers to Disclosures. Franchise systems are regulated by Federal and State agencies requiring a set of disclosures intended to protect the applicant. These disclosures are collectively known as the UFOC (Uniform Franchise Offering Circular). When you work with a good Franchise Consultant, they prepare this document for you, customizing it for your particular business, adding provisions to protect you while assisting you in defining your Franchise structure. The UFOC also houses the Franchise Agreement. As the UFOC is a summary of what an applicant should expect - the franchise agreement in comparison is the UFOC on steroids. Every detail is threaded through the Franchise agreement covering items such as: investment expectations, fees, restrictions on products/services a franchisee can offer, multi area marketing programs and responsibilities of franchisee/franchiser. A Franchising Expert / Advisor works with clients to define these items while incorporating provisions that do not commit the Franchisor, but allows for options in the future. For example, a business may feature a document that states: Franchisor may form a franchisee elected franchise advisory council whose purpose is to determine how national advertising monies are spent. Systems refer to what has been developed in the business and presented in an organized fashion to the Franchisee. This is what the Franchisor provides to Franchisees by way of reference materials. And of course a Franchise Expert makes this EASY. A good Franchise Development Consultant will provide clients with template versions of an Operations Manual, Pre Opening manual and various other supporting pieces intended to systemize and structure their business operations in a cookie cutter format. For example: The operations manual for a non-restaurant business contains over 330 pages. A Franchising Expert / Advisor will require their client to customize the operations manual with their company name, logo and add the “meat & potatoes” of their business into the various sections- all the proprietary stuff. For example, most clients will take the marketing/advertising section of the Operations Manual and make every marketing piece they have ever used into a template format ready to be used by future franchisees in their area. Taking all these pieces together, including the UFOC and reference materials, allows enough cross-pollination to nicely create a training/orientation program/discovery day. By utilizing the structure of the franchise system (UFOC), the Operations Manual and Pre-Opening manual, a Franchising Expert can work with clients to determine what items to focus on when training Franchisees. After all, an entrepreneur who invests a large sum of $$ to brand their business must be able to run with it immediately after training. A good way to go about this is to create an outline of the training/orientation program, complimented by a PowerPoint presentation. The training and orientation program can be broken down into modules so it can be easily moved around and tailored to the audience. For example: A Franchise Consultant could create a 3-day training program with each day broken down into modules. If, for example, a franchisee needed more attention on the administrative functions in day two of training, they could simply move the next scheduled module around with the second half of administrative module of day three so they could spend more time on that area without losing momentum and without jeopardizing the timeline. Structure, syst In general, people want to own a business without thinking; therefore owning a Franchise is the conduit for many entrepreneurs because franchises are business systems that are easily duplicated. Typically, many business owners spend their own money opening up satellite offices and hiring employees who do not even care about the business- to run it. Their logic is that this is the best way to control growth and keep the consistency and uniformity of their product or service. However, if you can get the same results - why not use the resources of an entrepreneur who has skin in the game, to use his/her own money to brand their business without having the out of pocket expenses? To create franchise wealth, you have to leverage your efforts while minimizing costs. If you are a business owner and really want to expand your business, you should take a serious look at Franchising. The Franchising Information below can greatly assist you in starting the process of Franchising Your Business. This information can also be utilized by entrepreneurs wishing to talk to businesses about franchising. In short, you will better understand just how EASY and SIMPLE it is for businesses to expand through franchising. It is all about structure and systems. Structure refers to Disclosures. Franchise systems are regulated by Federal and State agencies requiring a set of disclosures intended to protect the applicant. These disclosures are collectively known as the UFOC (Uniform Franchise Offering Circular). When you work with a good Franchise Consultant, they prepare this document for you, customizing it for your particular business, adding provisions to protect you while assisting you in defining your Franchise structure. The UFOC also houses the Franchise Agreement. As the UFOC is a summary of what an applicant should expect - the franchise agreement in comparison is the UFOC on steroids. Every detail is threaded through the Franchise agreement covering items such as: investment expectations, fees, restrictions on products/services a franchisee can offer, multi area marketing programs and responsibilities of franchisee/franchiser. A Franchising Expert / Advisor works with clients to define these items while incorporating provisions that do not commit the Franchisor, but allows for options in the future. For example, a business may feature a document that states: Franchisor may form a franchisee elected franchise advisory council whose purpose is to determine how national advertising monies are spent. Systems refer to what has been developed in the business and presented in an organized fashion to the Franchisee. This is what the Franchisor provides to Franchisees by way of reference materials. And of course a Franchise Expert makes this EASY. A good Franchise Development Consultant will provide clients with template versions of an Operations Manual, Pre Opening manual and various other supporting pieces intended to systemize and structure their business operations in a cookie cutter format. For example: The operations manual for a non-restaurant business contains over 330 pages. A Franchising Expert / Advisor will require their client to customize the operations manual with their company name, logo and add the “meat & potatoes” of their business into the various sections- all the proprietary stuff. For example, most clients will take the marketing/advertising section of the Operations Manual and make every marketing piece they have ever used into a template format ready to be used by future franchisees in their area. Taking all these pieces together, including the UFOC and reference materials, allows enough cross-pollination to nicely create a training/orientation program/discovery day. By utilizing the structure of the franchise system (UFOC), the Operations Manual and Pre-Opening manual, a Franchising Expert can work with clients to determine what items to focus on when training Franchisees. After all, an entrepreneur who invests a large sum of $$ to brand their business must be able to run with it immediately after training. A good way to go about this is to create an outline of the training/orientation program, complimented by a PowerPoint presentation. The training and orientation program can be broken down into modules so it can be easily moved around and tailored to the audience. For example: A Franchise Consultant could create a 3-day training program with each day broken down into modules. If, for example, a franchisee needed more attention on the administrative functions in day two of training, they could simply move the next scheduled module around with the second half of administrative module of day three so they could spend more time on that area without losing momentum and without jeopardizing the timeline. Structure, sys Structure refers to Disclosures. Franchise systems are regulated by Federal and State agencies requiring a set of disclosures intended to protect the applicant. These disclosures are collectively known as the UFOC (Uniform Franchise Offering Circular). When you work with a good Franchise Consultant, they prepare this document for you, customizing it for your particular business, adding provisions to protect you while assisting you in defining your Franchise structure. The UFOC also houses the Franchise Agreement. As the UFOC is a summary of what an applicant should expect - the franchise agreement in comparison is the UFOC on steroids. Every detail is threaded through the Franchise agreement covering items such as: investment expectations, fees, restrictions on products/services a franchisee can offer, multi area marketing programs and responsibilities of franchisee/franchiser. A Franchising Expert / Advisor works with clients to define these items while incorporating provisions that do not commit the Franchisor, but allows for options in the future. For example, a business may feature a document that states: Franchisor may form a franchisee elected franchise advisory council whose purpose is to determine how national advertising monies are spent. Systems refer to what has been developed in the business and presented in an organized fashion to the Franchisee. This is what the Franchisor provides to Franchisees by way of reference materials. And of course a Franchise Expert makes this EASY. A good Franchise Development Consultant will provide clients with template versions of an Operations Manual, Pre Opening manual and various other supporting pieces intended to systemize and structure their business operations in a cookie cutter format. For example: The operations manual for a non-restaurant business contains over 330 pages. A Franchising Expert / Advisor will require their client to customize the operations manual with their company name, logo and add the “meat & potatoes” of their business into the various sections- all the proprietary stuff. For example, most clients will take the marketing/advertising section of the Operations Manual and make every marketing piece they have ever used into a template format ready to be used by future franchisees in their area. Taking all these pieces together, including the UFOC and reference materials, allows enough cross-pollination to nicely create a training/orientation program/discovery day. By utilizing the structure of the franchise system (UFOC), the Operations Manual and Pre-Opening manual, a Franchising Expert can work with clients to determine what items to focus on when training Franchisees. After all, an entrepreneur who invests a large sum of $$ to brand their business must be able to run with it immediately after training. A good way to go about this is to create an outline of the training/orientation program, complimented by a PowerPoint presentation. The training and orientation program can be broken down into modules so it can be easily moved around and tailored to the audience. For example: A Franchise Consultant could create a 3-day training program with each day broken down into modules. If, for example, a franchisee needed more attention on the administrative functions in day two of training, they could simply move the next scheduled module around with the second half of administrative module of day three so they could spend more time on that area without losing momentum and without jeopardizing the timeline. Structure, sys Systems refer to what has been developed in the business and presented in an organized fashion to the Franchisee. This is what the Franchisor provides to Franchisees by way of reference materials. And of course a Franchise Expert makes this EASY. A good Franchise Development Consultant will provide clients with template versions of an Operations Manual, Pre Opening manual and various other supporting pieces intended to systemize and structure their business operations in a cookie cutter format. For example: The operations manual for a non-restaurant business contains over 330 pages. A Franchising Expert / Advisor will require their client to customize the operations manual with their company name, logo and add the “meat & potatoes” of their business into the various sections- all the proprietary stuff. For example, most clients will take the marketing/advertising section of the Operations Manual and make every marketing piece they have ever used into a template format ready to be used by future franchisees in their area. Taking all these pieces together, including the UFOC and reference materials, allows enough cross-pollination to nicely create a training/orientation program/discovery day. By utilizing the structure of the franchise system (UFOC), the Operations Manual and Pre-Opening manual, a Franchising Expert can work with clients to determine what items to focus on when training Franchisees. After all, an entrepreneur who invests a large sum of $$ to brand their business must be able to run with it immediately after training. A good way to go about this is to create an outline of the training/orientation program, complimented by a PowerPoint presentation. The training and orientation program can be broken down into modules so it can be easily moved around and tailored to the audience. For example: A Franchise Consultant could create a 3-day training program with each day broken down into modules. If, for example, a franchisee needed more attention on the administrative functions in day two of training, they could simply move the next scheduled module around with the second half of administrative module of day three so they could spend more time on that area without losing momentum and without jeopardizing the timeline. Structure, sys Structure, systems and training are the key ingredients for a successful Franchise system. As a potential Franchisor, you will need good tools and consistent information streams so you can impart what you learn and let it Create Franchise Wealth for you. And for those vendors, who wish to work with many Franchisors to assist in their franchise business, remember that about 85%-90% of franchisees use the same vendor for services that their Franchisor uses. As you contemplate Franchising Your Business, here are some questions you can consider to see if Franchising is the right tool for expanding your operation. “Wouldn’t it be nice to expand without having to worry about capital outlay and having to hire employees?” Customers who you have heard say they would like to see another one of these in other areas. “Have any of them ever indicated that they would like to own one of these?” Just remember that a Franchise Consultant will take the intimidation out of the process of Franchising Your Business. A good consultant will take it one step at a time by providing Structure and creating systems and training programs needed to successfully duplicate your business. If a Franchise Consultant can also allow you to “pay as you go” so you don’t have large upfront costs, then it will probably make sense to let that qualified Franchise Expert create Franchise Wealth for YOU.
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